[brooksby]

Can someone please explain how the energy price cap works.

Specifically: in what way is it a “cap”?

I read that the price cap is increased, then will be increased again, and so on and so forth.

I also read that the energy companies’ profits have been increasing massively.

So, in what way is the energy price cap what the chap on the Clapham Omnibus would understand to be a cap (ie. a limit)?

Topic

[NOtotheEU]

TheBillder wrote:

TheBillder wrote:

The most interesting thing was how the policy developed within the Conservative Party. When suggested by Ed Milliband, it was Dangerous Socialism. By the time of the next election, it was Tory policy. Odd.

So if the Conservatives have stolen New Labour policy maybe Labour might move towards ‘Old’ Labour and remember how they got their name.

Given how Mick Lynch has recently performed in interviews showing complete and utter contempt for the media and politicians alike he seems a perfect candidate for the leaders job which is currently held by, you know, that guy in a suit, whatshisname. It’ll come to me eventually.

[hawkinspeter]

NOtotheEU wrote:

NOtotheEU wrote:

TheBillder wrote:

The most interesting thing was how the policy developed within the Conservative Party. When suggested by Ed Milliband, it was Dangerous Socialism. By the time of the next election, it was Tory policy. Odd.

So if the Conservatives have stolen New Labour policy maybe Labour might move towards ‘Old’ Labour and remember how they got their name.

Given how Mick Lynch has recently performed in interviews showing complete and utter contempt for the media and politicians alike he seems a perfect candidate for the leaders job which is currently held by, you know, that guy in a suit, whathisname. It’ll come to me eventually.

Keith something?

[Mungecrundle]

I don’t understand all the
I don’t understand all the fuss. Surely our professional leaders are working diligently on how best to claim heating costs for their multiple homes through their benefit-in-kind exempt MPs allowances. Once they’ve got that sorted I’m certain they won’t forget about the rest of us. “All in it together” or something…

[Gm_Crop]

mdavidford wrote:

mdavidford wrote:

The bigger question is how much luft can you get on your energy price cap?

It’s almost worth a cost of living crisis just for that

[mdavidford]

The bigger question is how

The bigger question is how much luft can you get on your energy price cap?

[hawkinspeter]

brooksby wrote:

Does anyone think there will still be human civilisation on Earth in Y10K?

Do you think we’ve got human civilisation on Earth now?

[brooksby]

Does anyone think there will

Does anyone think there will still be human civilisation on Earth in Y10K?

[Hirsute]

Maybe is will appear as  ####

Maybe is will appear as  #### posts as the width is wrong.
I’d hope they’ll send you a feebie though !

[hawkinspeter]

chrisonatrike wrote:

Year 10000 problem.

Year 2038 problem

[chrisonabike]

Year 10000 problem.

Year 10000 problem.

[OnYerBike]

In the “good old days” before

In the “good old days” before the price cap, old fuddy duddies who never switched or even signed up to a better tariff with their existing supplier were massively ripped off. Suppliers were free to charge whatever they wanted, and so ramped up prices as high as they liked, and (some) customers just blindly paid their bills without question. 

The price cap was brought in to prevent this – essentially the idea was to cap the profit suppliers could make on individual tariffs. So rather than being free to charge the customer whatever they wanted, suppliers had to cap their tariffs based on a forumla that looked at the wholesale energy prices. Customers could still normally still save substantially by switching, but if you didn’t switch you weren’t being ripped off quite so massively. 

The current problem is caused by wholesale costs rising, which is a problem the cap was never designed to cope with. The energy suppliers that deal directly with retail customers like you and I are not currently making much profit, and indeed several have gone bust since the crisis started. The companies that are making the huge profits are the wholesalers, who operate on an international market and aren’t subject to the cap.

[hawkinspeter]

TheBillder wrote:

TheBillder wrote:

The idea was to protect people who had either never switched from the old gas and electricity board tariffs, or were coming off a fixed price, from punitive costs caused by ignorance of switching or inertia. It could never insulate people fully from global price hikes without regulating the entire energy process. The most interesting thing was how the policy developed within the Conservative Party. When suggested by Ed Milliband, it was Dangerous Socialism. By the time of the next election, it was Tory policy. Odd.

 

[brooksby]

chrisonatrike wrote:

Maybe you get reincarnated (reinstantiated) under a different username – your score resets to zero, the site palette changes but now it’s much harder (more ads / trolls / triggering stories)?

When our car ticked over 100,000 miles it went to zero because the mileometer only has five spaces plus a space for decimals…

[chrisonabike]

Maybe you get reincarnated

Maybe you get reincarnated (reinstantiated) under a different username – your score resets to zero, the site palette changes but now it’s much harder (more ads / trolls / triggering stories)?

[hawkinspeter]

brooksby wrote:

hirsute wrote:

(22 posts to go before you get your free road.cc socks !)

???  I’d assumed if I hit 10K posts then I break the site or something…

That’s what I’m hoping for, but looks like you’re going to find out before I do.

[Author]

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